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Cohort wins £700k contract with UK government agency
AIM-listed technology group Cohort said on Tuesday that its SEA subsidiary has won a contract with an initial value of £700,000 with a UK government agency to lead a team in the area of soldier system research and development.
The contract is for 2018 but is likely to continue until 2021, with a potential total value of more than £3m.
Under the contract, SEA will lead a team of specialist companies to develop a weapon system that combines novel and emerging small arms technologies to produce an integrated system that will deliver greater efficacy for the individual soldier on the battlefield.
Chief executive Andy Thomis said: "This contract recognises our position at the forefront of soldier system research and development and our capability as a prime contractor. This contract award, together with other recent wins, enhances the visibility of future group revenue."
At 1020 GMT, the shares were down 0.4% to 359.90p.